IBM and Maersk are closing TradeLens by the first quarter next year, after the blockchain-based supply chain service failed to attract enough users to be commercially viable. Four years after IBM and Maersk first unveiled TradeLens, the companies have announced they will be withdrawing TradeLens offerings and will discontinue the blockchain-based supply chain platform. The platform will go offline by the end of the first quarter in 2023. Apparently the platform did not attract enough users to be commercially viable. “The need for full global industry collaboration has not been achieved,” said Rotem Hershko, head of business platforms at A.P. Moller – Maersk, in a statement posted on Maersk’s website. “TradeLens has not reached the level of commercial viability necessary to continue work and meet the financial expectations as an independent business.” Launched in 2018 and jointly developed by IBM and GTD Solution, a division of Maersk, TradeLens aimed to digitize and simplify global supply chains via a electronic shipping ledger that records details of cargo shipments as they leave their origin, arrive in ports, are shipped overseas and eventually received. Where the shipping industry’s traditional style of information sharing relied on outdated electronic data interchange (EDI) systems, email, fax, or courier, TradeLens allowed all involved parties in the supply chain to view tracking information such as shipment arrival times and documents such as customs releases, commercial invoices and bills of lading in near real time via its permissioned blockchain ledger. During its short lifespan, the project built up a network of over 300 members including ocean carriers, terminals, inland depots, customs authorities and intermodal providers. Despite the closure of the platform, the statement on Maersk’s website claims the company will “continue its efforts to digitise the supply chain,” increasing industry innovation to reduce trade friction and promote more global trade. “We will leverage the work of TradeLens as a steppingstone to further push our digitisation agenda and look forward to harnessing the energy and ability of our technology talent in new ways,” Hershko said. Related content feature Windows 11 Insider Previews: What’s in the latest build? Get the latest info on new preview builds of Windows 11 as they roll out to Windows Insiders. Now updated for 22635.3500 for the Beta Channel and Build 26200 for the Canary Channel, both released on April 19, 2024. By Preston Gralla Apr 19, 2024 250 mins Small and Medium Business Microsoft Windows 11 news analysis Chasing business and partnerships, Apple goes APAC Apple CEO Tim Cook’s week-long visit to Indonesia, Vietnam, and Singapore highlights how the company continues to explore new opportunities in global markets. By Jonny Evans Apr 19, 2024 4 mins Manufacturing Industry Apple Vendors and Providers news Microsoft reminder: Support for Office 2016 and 2019 ends next year Older versions of Office apps and servers will no longer get security updates as of October 2025 — when Windows 10 also reaches end of support. By Matthew Finnegan Apr 19, 2024 3 mins Microsoft Office Microsoft Office Suites news Google consolidates AI teams into DeepMind to scale capacity The restructuring will simplify development by concentrating compute-intensive model building in one place and establishing single access points for PAs looking to take these models and build generative AI applications, Google said. By Gyana Swain Apr 19, 2024 4 mins Google Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe